[Note to Readers: I NEVER divulge details of an in-process transaction that I'm handling, for obvious reasons. However, once a deal is closed and a matter of public record, I may cite otherwise publicly available information as evidence of particular market activity, trends, etc.]

This home and the couple who bought it (my clients) are the flip side of today's distressed housing market.

First-time Buyers who qualify for a tax credit, they paid the bank-owner $175k -- just about half what the previous owners paid in March, 2006.

Even after the fix-up time and money the Buyers will now have to invest . . . that's a whale of a discount!

About Ross Kaplan

Ross Kaplan, 50 years old, is a realtor in Edina Realty's City Lakes (Minneapolis) office. He is also a former attorney (corporate law) and CPA, and holds an economics degree from Stanford. Ross is a three-time "Super Realtor," named by Mpls.-St. Paul Magazine and Twin Cities Business Magazine, and is a repeat member of Edina Realty's "Leadership Circle," awarded to the company's top 5% in sales volume. He served two terms on the local Board of Realtors' Professional Standard Board, which adjudicates ethics complaints and other industry issues. Ross' real estate practice focuses on Minneapolis and the West suburbs. He lives in Minneapolis' Sunset Gables neighborhood with his wife and three kids.
Ross' Journalism credentials: trivia question . . what do Ross and (NY Times columnist) Thomas L. Friedman have in common? They both were editors of the St. Louis Park high school newspaper, the Echo (Ross in '78, Thomas Friedman in '71). Ross' frequent articles and op-ed pieces have appeared in The New York Times, Star Tribune, Minneapolis-St. Paul City Business, RealClearMarkets.com, and numerous other publications -- online and off!